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FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
5. FAIR VALUE MEASUREMENTS
The following tables present information about our financial assets that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques we utilized to determine such fair value:
(In thousands)As of June 30, 2026Quoted Prices in Active Markets
(Level 1)		Significant Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Financial assets
Cash equivalents:
Money market funds141,609 141,609 — — 
Marketable debt securities:
U.S. treasury securities808,038 — 808,038 — 
Corporate notes437,947 — 437,947 — 
U.S. government-sponsored enterprise securities339,623 — 339,623 — 
Commercial paper14,221 — 14,221 — 
Restricted cash (money market funds)569 569 — — 
Total financial assets$1,742,007 $142,178 $1,599,829 $— 
(In thousands)As of December 31, 2025Quoted Prices in Active Markets
(Level 1)		Significant Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Financial assets
Cash equivalents:
Money market funds$140,445 $140,445 $— $— 
U.S. treasury securities18,952 — 18,952 — 
U.S. government-sponsored enterprise securities2,690 — 2,690 — 
Commercial paper1,995 — 1,995 — 
Marketable debt securities:
U.S. treasury securities653,341 — 653,341 — 
Corporate notes333,241 — 333,241 — 
U.S. government-sponsored enterprise securities252,634 — 252,634 — 
Commercial paper7,017 — 7,017 — 
Municipal securities5,001 — 5,001 — 
Restricted cash (money market funds)917 917 — — 
Total financial assets$1,416,233 $141,362 $1,274,871 $— 
During the three and six months ended June 30, 2026 and 2025, there were no transfers into or out of Level 3 financial assets or liabilities. The carrying amounts reflected on our condensed consolidated balance sheets for cash, accounts receivable, net, other current assets, accounts payable and accrued expenses approximate fair value due to their short-term maturities.